Industry
Rates in the United States transportation market remain high despite showing signs of levelling off, notes a new survey of transportation insurance brokers, wholesalers and underwriters south of the border. The Transportation Insurance Pricing Survey (TIPS) – released Wednesday by NIP Group, Inc. – demonstrates the majority of respondents believe the transportation market remains consistent […]
By Canadian Underwriter | March 15, 2013
2 min read
Directors and officers of organizations responding to a recent survey were more likely to inquire last year than in 2011 about the scope of liability insurance coverage, a Towers Watson survey suggests. The New York-based professional services firm recently released results of a D&O liability survey, in which nearly two-thirds of non-profit respondents reported having […]
3 min read
Saskatchewan General Insurance (SGI) announced Thursday it plans to revise its proposed premium hikes for motorcycle owners after an earlier proposal spawned a backlash against the ruling Saskatchewan Party government. “Under SGI’s revised proposal increases for motorcycles with annual rates greater than $1,000 will be capped at a maximum of 15%,” the company stated in […]
By Canadian Underwriter | March 14, 2013
The demand for transactional risk insurance increased significantly last year, notes a new report from Marsh. Demand for the coverage among its clients grew 41% last year over 2011 globally, notes the report, M&A Transactional Risk Solutions: Global Review 2012, issued from the company’s Private Equity and Mergers & Acquisitions Services (PEMA) business. From 2010, the […]
More companies purchased cyber insurance in 2012 over previous years in an effort to protect themselves from data breaches, notes a new report from Marsh. The number of the company’s U.S. clients purchasing cyber insurance increased by 33% from 2011 to last year, notes the report. “Cyber insurance limits purchased in 2012 averaged $16.8 million […]
1 min read
Desjardins General Insurance Group announced Thursday its direct written premiums increased 8.2% year-over-year from 2011 to 2012, but suggested Ontario auto continues to be a concern. In a press release, the Levis, Que.-based carrier said in 2012, it recorded net income of $185.9 million on direct written premiums of $1.98 billion. Its net income was […]
High net worth (HNW) families in the United States often do not carry enough liability coverage in a variety of forms, leaving their wealth unnecessarily exposed, notes a new ACE survey of independent insurance agents and brokers. “Most wealthy individuals and families who insure their assets with carriers geared primarily for the average U.S. household […]
Honda Canada has announced a recall involving 7,800 vehicles to address potential malfunctions with the vehicle stability assist (VSA) system on the Pilot and three Acura models that could increase crash risk. Honda Canada will recall approximately 3,200 Honda Pilot vehicles, 700 Acura RL vehicles and 3,800 Acura MDX vehicles from the 2005 model year, […]
Willis Group Holdings unveiled Tuesday its DairyProtector program, targeted at American farms producing raw milk for bulk sales. DairyProtector will be administered by Portsmouth, N.H.-based Willis Programs, which sells specialty products for specific industries. It will be available in 19 U.S. states and is underwritten by a carrier that Willis says was rated “A” by […]
By Canadian Underwriter | March 13, 2013
Saskatchewan General Insurance (SGI), the government-mandated auto carrier in the province, may submit an amended application to the Saskatchewan Rate Review Panel for increases to motorcycle premiums, while Premier Brad Wall suggests legislative changes may be needed if bikers want the option of reducing their premiums by declining income replacement coverage. “SGI will be making […]
4 min read
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